How Revolutionary Were President Biden’s Budget Proposals?

President Biden’s fiscal year 2022 budget proposals were big and diffuse. They, and much of what Congress has considered since then, would also often be temporary. Despite once-in-a-generation policy changes, the real growth in federal spending that either administration or congressional proposals would foster pales relative to that caused by a few years of economic growth, the past adoption of Medicare by itself, or the future growth already built in existing programs through decisions by past Congresses. On the tax side, the Biden proposals would largely continue a modern tug-of-war involving tax cuts mainly when Republicans succeed to the Office of the President and offsetting tax increases when Democrats win.